Landstar System

Landstar System provides freight transportation and logistics services with few assets of its own. Independent commission sales agents find the freight. Independent business capacity owners (BCOs), who lease their trucks to Landstar, and truck brokerage carriers haul it. Truck transportation by BCOs and brokerage carriers was 93% of revenue in Q3 2026.

Rail, air and ocean carriers hauled the rest. Landstar also has an insurance segment that covers part of its claims. Revenue was $4.74 billion in 2025. Its fiscal year ends in late December, and its headquarters is in Jacksonville, Florida.

The market prices Landstar for higher insurance and claims costs, more than for the freight cycle. Freight demand and truck prices improved in 2026: revenue rose 25% in Q3 2026, and truck revenue per load rose about 25%. But insurance and claims costs rose to $55.3 million in Q3 2026 from $33.0 million a year earlier, and they included $13.0 million of adverse actuarial adjustments. In Q2 2026, the company also said that a recent U.S.

Supreme Court decision in the Montgomery case can make freight brokers more liable for accidents. For the gap to close, three things must be true. Insurance and claims costs must stop rising as a share of revenue. The better truck prices must last into 2027, and the number of BCO trucks must keep growing after the net addition of 165 in Q3 2026.

Working capital must return to normal so that free cash flow recovers from $87.1 million in the first nine months of 2026. The Q4 2026 report, expected in late January 2027, is the next test. If these checks pass, the gap can close over the next four to six quarters. The main reason it may not close is that claim costs and broker liability can keep rising across the industry.

1. Jan 27, 2027 · est.Pending

   Q4 2026 results: insurance costs and truck pricesInsurance and claims costs below the $55.3 million of Q3 2026, truck revenue per load that stays higher than a year earlier and more BCO trucks pass; new reserve increases or falling truck prices fail.
2. 2027 · est.Pending

   Broker liability after the Montgomery decisionClaims against Landstar's brokerage that stay stable pass; new large claims or verdicts that name Landstar as a broker fail.

Every passed and failed checkpoint across all picks

• October 27, 2026Landstar reported Q3 2026 results. Revenue rose 25% to $1.512 billion, truck revenue rose 29% and EPS rose to $1.42 from $0.56. Insurance and claims costs rose to $55.3 million, including $13.0 million of adverse actuarial adjustments and $8.0 million from the settlement of two older accident claims. The BCO truck count grew by a net 165 trucks. The board declared a quarterly dividend of $0.44 per share.
• July 28, 2026Landstar reported Q2 2026 results. Revenue rose 18% to $1.432 billion, and EPS rose 20% to $1.44. Higher insurance and claims costs, mostly from older claims, lowered the result. The company said that the claim environment stays hard, especially after the U.S. Supreme Court's recent Montgomery decision on broker liability.
• July 23, 2026Landstar named William Clement, who spent the last 8 years at the trucking company CRST, as Chief Commercial Officer from August 1, 2026.

Last earnings

October 27, 2026 (8-K on sec.gov)

Next earnings

Expected about January 27, 2027. The company has not confirmed the date.

• 10-QQuarterly report for the period ended Sep 26, 2026Filed October 28, 2026 · Read it on sec.gov
• 8-KEarnings release and Investor disclosureFiled October 27, 2026 · Read it on sec.gov
• 10-QQuarterly report for the period ended Jun 27, 2026Filed July 29, 2026 · Read it on sec.gov
• 8-KEarnings release and Investor disclosureFiled July 28, 2026 · Read it on sec.gov
• 8-KOther company newsFiled July 23, 2026 · Read it on sec.gov
• 8-KNew material agreement and New debt or financial obligationFiled July 6, 2026 · Read it on sec.gov
• 8-KShareholder vote resultsFiled May 6, 2026 · Read it on sec.gov
• 10-QQuarterly report for the period ended Mar 28, 2026Filed April 29, 2026 · Read it on sec.gov
• 8-KEarnings release and Investor disclosureFiled April 28, 2026 · Read it on sec.gov
• 8-KChange of directors or officersFiled April 2, 2026 · Read it on sec.gov

Every filing on SEC EDGAR (CIK 853816)

• Insurance and claims costs rose to $55.3 million in Q3 2026 from $33.0 million a year earlier. Large accident verdicts and settlements are rising in the industry. Landstar keeps part of the risk itself, so a few large claims can lower earnings.
• The company said in July 2026 that the U.S. Supreme Court's Montgomery decision can expose freight brokers to more accident liability. More claims against brokers can raise Landstar's costs.
• Truck freight is cyclical. EPS fell to $3.31 in 2025 from $11.76 in 2022. If freight demand or truck prices fall again, revenue and earnings can fall quickly.
• Landstar depends on independent agents and BCOs. If agents or BCOs leave, the company can lose freight and capacity.

Landstar has net cash. At September 26, 2026, cash was $297.3 million and short-term investments were $53.7 million, against debt of $82.7 million, mostly finance leases. Read more

Dividend yield

2.6% (last 12 months, at today’s price of $138.80)

Paid per share

$3.64 in the last 12 months (5 payments)

Current annual rate

$1.76 ($0.44 × 4 a year)

Payout ratio

108% of the last fiscal year’s earnings (the year that ended December 27, 2025)

Latest ex-dividend date

August 18, 2026, $0.44 per share

Dividends per share by year

Over the last 5 years, the dividend grew by about 4.8% a year.

Source: company filings and market data, read on October 29, 2026. The ex-dividend date is the first day a buyer no longer gets the next payment.